BBC Radio Kent - Interview with Kent-based mortgage broker or IFA on Bank of England interest rate decision

The Banks decision today will further exasperate the wallets and purses of the UK population, those who will feel it the hardest and fastest are those with mortgage deals on variable interest rates. Over the shorter term say the next 2 years people will notice rates are considerably higher than they had perhaps been enjoying. We've all been enjoying the unnaturally low rates that have benefitted borrowers since 2008/2009 but now the reality bites as we are entering a market of more normal conditions. Those with loans which have rates ending within the coming 6 months or less would be well prepared to speak to a broker to arrange a new deal for when their current one ends. Don't be a fool languishing on a standard variable rate, don't let your wallets bleed out.